EU-Mercosur Trade Accord: A Delicate Balance of Economies

The European Union is nearing a long-awaited trade deal with South America's Mercosur bloc, despite significant opposition from France and European farmers. The agreement, involving tariff reductions, promises economic benefits for both regions by increasing trade flow of beef and grains. Final deal announcements are expected soon.

European Commission President Ursula von der Leyen arrived in Uruguay on Thursday to advance a crucial trade deal between the European Union and Mercosur, despite France's harsh criticism of the agreement.

The pact, which has been twenty years in the making, aims to establish one of the largest global trade partnerships, significantly boosting beef and grain commerce.

Negotiations at the Montevideo summit suggest an imminent deal announcement, contingent on overcoming environmental and procurement issues, amidst resistance from France and EU farmers over commodity standards.

(With inputs from agencies.)